Artiva Biotherapeutics announced IPO terms, issuing 13.9 million shares of stocks at a price of $12 per share and raising $167 million.
Artiva Biotherapeutics (ARTV.US), a clinical stage biotechnology company focusing on autoimmune diseases and cancer cell therapy, announced IPO terms. The company issued 13.9 million shares of stocks at a price of $12 per share and raised $167 million, with the offering price lower than the expected range of $14 to $16 and the offering size exceeding the previous expectation by 5.2 million shares. Artiva Biotherapeutics will begin trading on NASDAQ on July 19th, with a stock code of ARTV.
As part of the offering, Artiva also granted the underwriters a 30-day option to purchase up to an additional 20,880 million shares of common stock at the IPO price (minus underwriting discounts and commissions).
Artiva focuses on developing therapies based on natural killer (NK) cells for patients with autoimmune diseases and cancer. Its lead candidate drug, AlloNK, is currently in phase 1/1b clinical trial for lupus nephritis, and a combination study targeting multiple autoimmune indications has been initiated. Artiva expects to report preliminary data from at least one of the trials in the first half of next year.
The offering is expected to be completed on July 22nd.